Framework for Trading Members to provide the facility of voluntary freezing/blocking the online access of the trading account to their clients

NOTICES

Notice No.		20240408-12		Notice Date		08 Apr 2024
Category		Compliance		Segment		General
Subject		Framework for Trading Members to provide the facility of voluntary freezing/blocking the online access of the trading account to their clients
Attachments		Annexure 1.pdf ;
Content

This is with reference to SEBI Circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2024/4 dated January 12, 2024 and Exchange Notice No. 20240112-30 dated January 12, 2024 on the subject "Ease of Doing Investments by Investors - Facility of voluntary freezing/ blocking of Trading Accounts by Clients".

The framework for trading members to provide the facility of voluntary freezing/blocking the online access of the trading account to their clients on account of suspicious activities as finalized in accordance with point no. 4 of the SEBI Circular is enclosed as Annexure - 1.<_o3a_p>

In accordance with aforesaid SEBI Circular dated January 12, 2024, the trading members shall frame a policy in line with the above mentioned framework, which shall be the part of the trading member's Risk Management Policy. The trading members shall disclose on their website, the above policy along with the process and mode(s) through which the client can place the request to freeze / block & unfreeze / unblock the trading account along with the timelines that will be followed by the trading members for the same. <_o3a_p>

With respect to new clients onboarded with effect from July 01, 2024, the policy so framed in line with the above mentioned framework shall form part of account opening kit.<_o3a_p>

Further, with respect to the existing clients, the aforesaid policy so framed by the trading members shall be communicated by July 01, 2024 via email or any other suitable mechanism which can be preserved. In case if communication gets bounced/undelivered, the same shall be communicated through alternate channels to such clients. Other suitable mechanism may include physical delivery/SMS/electronic instant messaging services after adhering with the safeguards prescribed under Exchange Notice No. 20220607-11 dated June 07, 2022 on Issuance of Electronic Contract Notes (ECN) through SMS/electronic instant messaging services. Further, the details pertaining to reporting requirement shall be communicated through a separate notice in due course.<_o3a_p>

Members are requested to take note of the contents of the circular and comply.<_o3a_p>

In case of any clarifications, members may contact us on details given as under:<_o3a_p>

Contact Nos.<_o3a_p>	Email ID<_o3a_p>
022- 2272 8435/5785<_o3a_p>	[email protected]<_o3a_p>

For and on behalf of BSE Ltd.<_o3a_p>

<_o3a_p>

Richa Ghosh Anuja Rane

Asst. Gen. Manager Asst. Manager<_o3a_p>

Inspection Inspection

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